14.11.15.DECC, a small Whitehall department, loses 1 in 8 jobs. Amber Rudd links action to subsidies, saying “subsidy should be temporary, not part of a permanent business model.”
13.11.15.Terrorists assault Paris in multiple gun and bomb attacks. Speculation soon quoshed that the tragedy means deferral of the climate summit.EDF employee shareholders say Hinkley project puts company survival at risk. “EAS asks the management ….to stop this risky project, whose financial risks are too big” etc.“Exxon Mobil cover-up case shows why energy investors need a new strategy.” “Pricing energy assets is about to change as the government treats Big Oil as it did Big Tobacco.”
12.11.15.Paris climate deal must be legally binding, EU tells John Kerry. This after the secretary of state said it would ‘definitively’ not be a treaty.FT: “There is a real chance a deal will be struck, a medium chance it will be very strong – and a small chance it will produce the deep cuts in emissions required to avoid risky global warming.”“UK becomes only G7 country to increase fossil fuel subsidies.” Tory government is giving billions in ever increasing handouts to oil and gas majors, report reveals.Huge glacier breakup underway in Greenland. The Zachariae Isstrom glacier holds enough water to raise global sea levels by half a metre, scientists say.
11.11.15.Eon reports record quarterly loss of €7.25bn as it writes down power assets. It is preparing its balance sheet for the spin off, which is in its final stages, CEO says.Rudd says she still has the confidence of the renewables sector after making her cuts. No renewables leaders are cited in the article offering such.“Energy Hasn’t Been This Hot Since They Invented Fire”: Bloomberg. “And the revolution is just beginning.”
10.11.15.Pope’s call for action on climate change has shifted US views. A survey shows doubling of Catholics “very worried” about climate change. 35% say they were influenced.“Oil glut to swamp demand until 2020”. So the FT headline reads. The 2015 IEA WEO shows big energy companies are overestimating demand, and that the energy transition has started.New Australian government declares itself “open for business “ on renewables. Canberra asks Saudis to invest in wind and solar.Saudi Arabia becomes last G20 country to submit Paris pledge. “Mitigation co-benefits” of up to 130m tons of CO2 equivalent a year by 2030, in an opaque submission with many caveats.Saudi Paris pledge involves an “ambitious” solar programme. Renewables seen as value-add to an economy they will reshape to fit the Paris agenda, the FT reports.Rudd ‘completely rejects’ notion UK climate change leadership damaged. The leaked letter is “accurate”, she tells an Energy & Climate Change select committee hearing.Ten UK universities divest from fossil fuels. This doubles the number of unviersities divested. Their endowments are worth £115m.
9.11.15.Climate change set to pass the milestone of 1C of warming. By the end of 2015, representing “uncharted territory” according to scientists at the UK’s Met Office.“Leaked letter: Rudd admits 25% green energy undershoot, misled Parliament.” She promised UK was on course for target. Now she wants to create renewable “credits” abroad to meet it.UK solar industry to add just 110 MW per year for next 5 years, DECC estimates mean. So Solar Intelligence calculates, if the 2020/21 forecast of 8.2 GW installed is to be believed.“Airpocalypse now: China pollution reaching record levels.” “In some areas level of harmful particles in the air were 56 times the levels considered safe by the World Health Organisation.”